September 18 2019, David R Brown
IMCD expands its Indian footprint by acquiring Monachem Additives
IMCD N.V., a leading distributor of speciality chemicals and food ingredients, has announced that it has successfully completed the acquisition of 100% of the outstanding shares of India-based 'Monachem Additives Private Limited' and 'Addpol Chemspecialities Private Limited' (together comprising Monachem Additives).
This acquisition fits perfectly in our continuous efforts to build and establish IMCD's position in the Advanced Materials segment in IndiaOlivier Champault
Director of IMCD Advanced Materials
Monachem Additives, headquartered in Vadodara, was established in 1974, and is engaged in supplying and selling a comprehensive range of specialty chemicals products, in particular for the plastics industry. In 2018/2019, Monachem Additives, generated revenue of INR 800 million with 22 employees (year ending March 31, 2019). Both entities will be fully integrated into IMCD's existing organisation in India by 2020.
Olivier Champault, Director of IMCD Advanced Materials comments, “This acquisition fits perfectly in our continuous efforts to build and establish IMCD's position in the Advanced Materials segment in India, a very promising market to support our expansion and ambition in Asia. Both companies, have a strong track record in offering specialty products and technical expertise which is very much aligned with IMCD practices.”
The acquisition is paid from available cash and existing facilities.
About IMCD N.V.
IMCD is a market-leader in the sales, marketing and distribution of speciality chemicals and food ingredients. Its result driven professionals provide market-focused solutions to suppliers and customers across EMEA, Asia-Pacific and Americas, offering a range of comprehensive product portfolios, including innovative formulations that embrace industry trends. Listed at Euronext, Amsterdam (IMCD), IMCD realised revenues of EUR 2,379 million in 2018 with more than 2,800 employees in over 45 countries on 6 continents. IMCD's dedicated team of technical and commercial experts work in close partnership to tailor best in class solutions and provide value through expertise for around 37,000 customers and a diverse range of world class suppliers
Source(s): IMCD Press Release